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Oil slides as US tariff hike raise jitters over global economy

BY Reuters | ECONOMIC | 02/22/26 06:23 PM EST

SINGAPORE, Feb 23 (Reuters) - Oil prices slipped on Monday after President Donald Trump said ?he would raise ?U.S. tariffs on global imports, creating ?uncertainty for world economic growth ?and fuel consumption.

Brent crude ?futures slid ?45 cents, or 0.63%, to $71.31 a ?barrel by 2315 ?GMT while U.S. crude futures were at $65.98 a ?barrel, down ?50 ?cents, or 0.75%.

Trump said on Saturday he would raise a ?temporary tariff from 10% to ?15% on U.S. imports from all countries, the maximum level allowed under the ?law, ?after the U.S. Supreme ?Court struck down his previous ?tariff programme.

The tariff decision offset the rising risk of a military conflict between the U.S. and Iran, which pushed Brent and ?West Texas Intermediate prices up more than 5% last ?week.

(Reporting by Florence ?Tan; Editing by ?Jamie Freed)

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